Spectator on facebook

Spectator on facebook

EU: Slovakia and Estonia only eurozone economies expected to grow in 2012

Slovakia and Estonia will probably be the only economies among the 17 members of the eurozone to record growth in 2012, European Commissioner for Economic and Monetary Affairs and the Euro Olli Rehn stated on Thursday, February 23.

Slovakia and Estonia will probably be the only economies among the 17 members of the eurozone to record growth in 2012, European Commissioner for Economic and Monetary Affairs and the Euro Olli Rehn stated on Thursday, February 23.

While the European Commission expects a fall in GDP (averaging -0.3 percent) across the eurozone, Slovakia and Estonia can expect 1.2-percent growth in 2012. Across the entire 27-member EU, where GDP is expected to remain broadly unchanged, Slovakia and Estonia are forecast to occupy joint sixth place in GDP growth in 2012, after Poland (2.5 percent), Lithuania (2.3 percent), Latvia (2.1 percent), Romania (1.6 percent) and Bulgaria (1.4 percent).

The prognosis for Slovakia notes that the country benefited from stronger-than-expected fourth quarter growth in 2011 (0.9 percentage points higher than the EC's expectations). However, the latest prognoses of industrial production and construction indicate a slight drop in 2012, the TASR newswire wrote. This deterioration will be largely due to the overall situation in the region, given that as much as 80 percent of Slovakia's exports got to EU markets. Meanwhile, the EC expects inflation in Slovakia in 2012 to be 1.9 percent, according to the harmonised index of consumer prices (HICP). Inflation averaged 4.1 percent in 2011.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Quidditch becomes reality in Slovakia as first teams emerge Video

The wizard sport, fighting for its status in the real sports world, has won the hearts of some Slovaks.

Robert Fico is not Saddam Hussein

It would take too long to list all the crazy distortions the international media presented about Central Europe and the Czech election campaign this week.

Babiš

Top stories from Last Week in Slovakia Video

Voters’ indifference affects regional votes - Can Slovaks be lured back from Britain? - Petit Press majority owner dies

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between October 20 and October 29, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

International Halloween Party